Revolut has announced a partnership with WeWork and to pay for the office space in Bitcoin, making it the largest company of its sort in the UK after raising $800 million in an investment round this summer.
The new US headquarters in Dallas, Texas will be able to accommodate 300 people. Furthermore, the challenger bank is paying in Bitcoin for the space. The amount has yet to be revealed.
The firm’s new North American headquarters in Dallas, Texas, will house 300 people, making it the firm’s largest office space to date.
Revolut paid for the space with Bitcoin, demonstrating the company’s growing faith in cryptocurrency as a payment option. According to a statement from Revolut, paying in crypto avoids the need for intermediaries, saving the British firm money on expensive overseas remittance fees.
We’re thrilled to be partnering with @RevolutApp to provide a new home for their employees in Dallas while utilizing cryptocurrency in the process to power their new flexible work strategy. #wework https://t.co/A6EJhmQXTq— WeWork (@WeWork) September 16, 2021
When WeWork first announced that it will begin accepting cryptocurrency payments for its services, it was in April of this year. Bitcoin payments service BitPay made it possible for the capability to be implemented. In 2013, Coinbase, an American cryptocurrency exchange, became the first company to pay for a workspace with cryptocurrencies.
Founded in February, Revolut has implemented a permanent flexible working approach, allowing the vast majority of its employees the flexibility of choosing when to come into the office and when to work from home.
As a result of its relationship with WeWork, Revolut will be able to repurpose its offices in cities such as Berlin, Dallas, Dublin, Melbourne, Moscow, Singapore, and New York to serve as flexible collaborative spaces for employees.
Located in downtown Dallas, the new workspace is the newest addition to Revolut’s flexible office spaces, which are generally referred to as “RevLabs.”
Around 70% of the floorspace at RevLabs will be dedicated to cooperation facilitation, including brainstorming sessions, training, meeting rooms, quiet zones, and knowledge sharing opportunities.
Positive developments on two fronts: Bitcoin is moving closer to institutional adoption, and it appears that a small number of people are preparing for a post-pandemic return to normalcy.